Technavio, a tech-focused market research firm, has published a new report on the global transcriptomics market, which is expected to experience a slow but steady growth rate with a CAGR of close to 2% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global transcriptomics market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global transcriptomics market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global transcriptomics market for 2015 (market share %)
|
Americas |
51.31% |
|
EMEA |
31.08% |
|
APAC |
17.61% |
Source: Technavio
The Americas: Largest revenue generating region for transcriptomics
The Americas dominated the global transcriptomics market during 2015 owing to a highly developed healthcare infrastructure and the presence of many big pharmaceutical companies particularly in North America. North America is the highest revenue contributor to the Americas as it conducts a high number of testing for new drug development and disease diagnosis in the region. By 2020, the Americas will continue its dominance in the market, accounting for around 51% share of the overall market. Much of the region’s growth will come from rising research investments made by several biotechnology and pharmaceutical companies to develop targeted therapeutics using transcriptomic technologies.
According to Abhay Sinha, a lead analyst at Technavio, specializing in research on lab equipment, “There has been a significant increase in research investments by several biotechnology and pharmaceutical companies to develop targeted therapeutics, which offers ample growth opportunities for transcriptomics technologies. Research investments have been high specifically in the South American countries like Brazil, where the major focus of drug discovery has been on cancer and malaria, as cases related to these diseases have been on constant rise in the recent years in the region.”
North America will continue to dominate the transcriptomics market over the next four years due to the rising preference for personalized medicines, which use biomarkers that are developed with the transcriptomic technologies. The presence of transcriptomic solution providers, such as Affymetrix, Illumina, and Agilent Technologies, will allow end-users to easily avail solutions for gene analysis at a cheaper rate owing to minimised transportation and other operational expenses.
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Transcriptomics market in EMEA
The EMEA region in the global transcriptomics market is expected to grow steadily over the forecast period, by registering a growth rate of more than 13%. EMEA has several countries comprising fast aging population that gives rise to a high number of age related chronic diseases such as arthritis, coronary heart disease, dementia, diabetes, cancer, and osteoporosis. These diseases require innovative treatment, where the transcriptomics solutions help in the development of advanced results, thereby reducing mortality rate. The region is expected to witness the launch of many new transcriptomics instruments and consumables during the forecast period, as many products are in pipeline and a few are waiting for approvals. Furthermore, EMEA has a fast improving healthcare infrastructure, especially in the Middle East, which has led to the increased demand for transcriptomics solutions for disease diagnosis and drug development. Technavio’s industry analysts expect that a large geriatric population in the region will augment the demand for accurate, fast, and affordable diagnosis in healthcare, propelling the demand for transcriptomics solutions in the region in the coming years.
Transcriptomics market in APAC
APAC is the fastest growing region in the global transcriptomics market, posting a CAGR of almost 16% during the forecast period. Much of the region’s growth can be attributed to the increasing investment by private investors and governments for R&D on new drugs for various diseases, especially diabetes and cancer. The high demand for improved diagnostics instruments and consumables will create growth opportunities for transcriptomics solution providers in the region during the forecast period. An increase in government and private funding for research, coupled with many biotechnology companies shifting their operational bases to APAC, primarily in countries like Indonesia, Malaysia, India, and China will support market growth in this region. Moreover, APAC also represents an attractive manufacturing destination for transcriptomic solutions because of the low cost of land, material, and labor.
In the recent years, the rise in cancer cases across the region has intensified research activities to detect and treat the condition, thereby driving the demand for advanced transcriptomics technologies such as RNA-Seq. Moreover, the potential of genomics discipline in the region has enabled many prominent companies to enter into strategic initiatives with regional organizations to increase their geographical reach, which will turn, will aid in the growth of the transcriptomics market in APAC.
The top leading vendors operating in the global transcriptomics market are:
- Agilent Technologies
- Illumina
- Roche Diagnostics
- Thermo Fisher Scientific
Other prominent vendors in the market include Beckman Coulter, Becton, Dickinson and Company, Biological Industries, bioMérieux, Bio-Rad Laboratories, Cepheid, Clontech Laboratories, Cytognomix, Edico Genome, Eppendorf, Fluidigm, GE Healthcare, Harvard Bioscience, Kapa Biosystems, Leica Biosystems, Maxim Biotech, Molecular Devices, Oxford Gene Technology, PerkinElmer, Promega, Qiagen, RainDance Technologies, Siemens Healthcare, and Sigma-Aldrich.
A more detailed analysis is available in the Technavio report tilted, ‘Global Transcriptomics Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global DNA Sequencing Products Market 2016-2020
- Global Antibody Drug Conjugates Market 2016-2020
- Global Molecular Diagnostics Market 2016-2020
- Global Prenatal and Newborn Genetic Testing Market 2015-2019
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